Neoenergia expands its stake in the Corumbá hydroelectric plant.

247 - Neoenergia SA (BVMF: NEOE3) announced that its renewable energy subsidiary has acquired a majority stake in the Corumbá III hydroelectric project, following a special auction held at B3 in São Paulo. This information was published... originally by Brazil Stock Guide.

According to a statement released on October 3rd, Neoenergia Renováveis ​​acquired the 37,5% stake held by CELGPAR in Energética Corumbá III (ECIII) for R$ 91,84 million, a value that will still be adjusted for inflation (IPCA) from December 31, 2023 until the settlement date. ECIII owns 40% of the Corumbá III consortium, responsible for operating the 96,5 MW hydroelectric plant located in the state of Goiás.

Consolidation of control

Prior to the transaction, Neoenergia Renováveis ​​owned 25% of ECIII and 60% of the Corumbá III consortium. With the new acquisition, the company now holds 62,5% of ECIII and 85% of Corumbá III, consolidating control over the strategic asset.

The closing of the transaction is still subject to the fulfillment of usual market conditions, including the waiver of the right of first refusal by Companhia Energética de Brasília (CEB), which holds a minority stake in ECIII.

Portfolio strategy and focus on efficiency

Neoenergia highlighted that the deal is in line with its capital discipline strategy, prioritizing asset rotation, portfolio optimization, and structural simplification of the company.

With this move, the company reinforces its position in the clean and renewable energy generation sector, within a context of energy transition and expansion of investments in sustainable sources.

The increased stake in Corumbá III also reinforces Neoenergia's role as one of the leading companies in the Brazilian electricity sector, focusing on projects that combine operational efficiency, energy security, and environmental commitment.